Harwood Feffer LLP Announces Investigation of Opus Bank

NEW YORK, Oct. 24, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Opus Bank ("Opus" or the "Company") (NASDAQ: OPB), concerning whether the board has breached its fiduciary duties to shareholders.

On October 17, 2016, the Company disclosed that it would record "charge-offs" on eight loan relationships which totaled $38.8 million.  On this news, Opus stock fell from approximately $34 per share to approximately $27 per share in one trading day, and has not recovered.

Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

If you own Opus Opus Bank shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email:  bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm. 

Attorney Advertising. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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SOURCE Harwood Feffer LLP